SEO Shark is a digital marketing firm in the heart of Sydney, Australia. The company was founded in 2004 and it specialises in providing effective and reliable search engine optimisation services to a wide variety of diverse clients. The business has benefited from the partnership structure, which has allowed the company to expand, grow and seek out further work in different sectors. A similar process happened with the famous ice cream retailer, Ben and Jerry’s, which was founded in 1978 by best friends, Ben Cohen and Jerry Greenfield. Both men had similar values and saw their business partnership as one that could bring social benefits and consumer happiness.
A quick overview on SEO Shark
Founded in 2004, SEO Shark was the product of a previous business failure. After operating as a small firm for several years.
How can other businesses benefit from a partnership structure?
It’s not just SEO Shark that has benefited from a partnership. There are plenty of other businesses that can and have thrived off the back of joining forces. So, let’s check out some of the reasons why a partnership can be the best way forward and some notable examples where it has worked.
Fill in knowledge gaps
Partnering with someone gives you access to more knowledge and expertise. If you don’t know, then your partner might know. An effective partnership will consist of two different people coming together, bringing their own different levels of expertise to the same core model. For example, you might be the brain’s trust, but perhaps you’re bad at selling. Maybe you need to find someone with a lot of experience in selling?
A larger pool of funding
Linking up with a partner brings a new level of cash to your business. No longer do you have to be funding everything personally by raiding your own piggy bank. Not only that, the right partner could have an enviable network of investor colleagues, who may be willing to invest in your firm, thereby raising more capital for you to grow your business. Microsoft began as a partnership between Bill Gates and Paul Allen in 1975. The company now makes over $100 billion US a year and has over ten thousand active patents.
Professional and moral support
Operating as a sole trader can be incredibly difficult. Sometimes, it can feel like it’s you against the world. However, having a partner there can help you through times of heightened stress and anxiety. By being in a similar position to you, they understand what you are going through and can help you along the way. You can bounce ideas off another person and debrief on an important issue.
At the end of the day, there might be setbacks and you probably won’t achieve all your goals. But running a business on your own can be lonely, so partnering with someone could be a great source of moral support and inspiration, like what was achieved at Ben and Jerry’s.